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GM Debates Coca-Cola Boycott & Pension Fund Strategy

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GM Debates Coca-Cola Boycott & Pension Fund Strategy 1 November 10, 2016 OFFICIAL NEWSLETTERPark Slope FoodOF Coop,THE Brooklyn,PARK SLOPE NY FOOD COOP Established 1973 Volume KK, Number 23 November 10, 2016 GM Debates Coca-Cola Boycott Ragas, Jazz and Rock & Pension Fund Strategy from a Rolling Musicians’ Cooperative By Pat Smith about how this musicians’ ow can a group of like- collective got started, I met Hminded musicians use with Sameer Gupta, one of the cooperative business prac- BRM’s founding members, at tices to get paid a living the Brooklyn Public Library on wage? The Brooklyn Raga Grand Army Plaza. Massive (BRM), are deter- mined to do it. BRM is a Musicians on a Mission nonprofit collaborative with What are the cooperative a mission to expose new aspects of BRM? “We’re like audiences to Indian classical the Coop in different ways,” ILLUSTRATION BY MICHAEL J. COHEN music, to connect similarly Sameer said. “What inspires inspired musicians with each me about the Coop is that By Alison Rose Levy and organic brands, the boy- community as a result had no other and to present new individuals have a part in it at he October 25 GM fea- cott would restrict members’ water and was forced to pur- works by their growing com- a mission-level. It’s not just Ttured extended discus- choices. chase and drink Coca-Cola munity of musicians. They a grocery store, it’s a place sions regarding whether Nancy Romer urged con- products instead. perform weekly, free-floating where you can engage with to continue the boycott of tinuing the boycott “because Kristi asked, “What are concerts around the city that the subject of food and pol- Coca-Cola products and we have a principled position parameters for deciding what highlight different elements itics. BRM is a similar thing, whether to change course on worker’s rights, the mur- to boycott? Where do we of the raga, the backbone of in that we’re working together with the Coop’s pension ders of unionists, the steal- draw the line?” Indian classical music, with to make ourselves aware of fund investments. ing of global water.” She said GC Joe Holtz reported that shows culminating in late- how we co-exist in the larger that “Coca-Cola is a rogue the Coop staff monitors trade night jam sessions open to world—how we work together Coca-Cola Boycott player in the world economy.” journals to learn of owner- other players. well and sometimes how we Renewed A member of the Chair ship changes. “We draw the Onstage recently at the undermine each other with- Lew Friedman proposed to Committee asked what the line when members draw the Society for Ethical Culture out knowing it. An artist may Coop members that the Coop Coop does to keep track line. It gets debated. Stan- as part of the Prospect Con- not want to get paid less than again pass a boycott of Coca- of new brands acquired by dards are set by people here.” certs series were BRM musi- a hundred bucks, but there’s a Cola products as it has done Coca-Cola. Another member told the cians who also happen to be guy who lives next door, he’s for the last 11 to 12 years. Susan Metz said that she meeting that, “if murder is PSFC members: Eric Fraser struggling and he’ll do a gig Receiving Coordinator knows of a place in Mexico not enough, we have to look on bansuri (bamboo flute), for 50 bucks, without realizing Ross Gibson, however, raised where the local water supply at what corporations are guitarist Ben Tyree, bassist that he’s lowering the general the concern that as Coca- was bought by the Coca-Cola doing to our country. If you Michael Gam, and Sameer economic weight that we have Cola acquires more natural Company. She said the local care about your democracy, Gupta on tabla (paired small as artists. Musicians need to we are at a critical point. We drums). To find out more CONTINUED ON PAGE 3 are losing control of our food, our water resources. If we are Next General Meeting on November 29 not all safe, no one is safe. If The General Meeting of the Park Slope Food Coop is held on they have the power to injure the last Tuesday of each month. The November General Meet- others, they will have the ing will be on Tuesday, November 29, at 7:00 p.m. at St. Fran- power to injure us.” cis Xavier School, 763 President St., between Sixth and More than 75 percent of Seventh Aves. those present voted by a The agenda is in this Gazette, on the Coop website at show of hands for the boycott www.foodcoop.com and available as a flier in the entryway to continue. of the Coop. For more information about the GM and about CONTINUED ON PAGE 2 Coop governance, please see the center of this issue. Fri, Nov 11 • Wordsprouts: IN THIS ISSUE Brave New Weed 7:00 p.m. Puzzle . 3 What’s in Season at the Coop? . 4 Thu, Dec 1 • Food Class: Coop Member Submissions: Coop Pension Fund . .5-6 Healthy Holiday Cookies 7:30 p.m. International Trade Education Squad Report . 7 Event Coop Calendar, Governance Information, Mission Statement . 9 Fri, Dec 2 • Film Night: Calendar of Events . 10 Highlights 12-12-12 7:00 p.m. Letters to the Editor. 12 Community Calendar . 14 Look for additional information about these and other events in this issue. Classifieds . 15 Exciting Workslot Opportunities, Thank You . 16 Read the Gazette while you’re standing on line OR online at www.foodcoop.com 2 November 10, 2016 Park Slope Food Coop, Brooklyn, NY Coca-Cola “Even though it is lowed, members commented. ative Grocers had resulted in always possible Eric McClure supported lowering some costs for food CONTINUED FROM PAGE 1 that a stock could the need for oversight, and at the Coop. He also noted at Pension Fund Questions go to zero, I don’t pointed out that some of the that Coop membership, now at In response to questions consider them to stocks in the fund are cur- 17,115, is at an all-time high. raised in prior General Meet- be speculative.” rently awaiting FDA approval. General Coordinator Elinoar ings as well as in articles in the Holtz cited the He also mentioned that one Astrinsky urged Coop members Linewaiters’ Gazette, Pension Fund investment strat- stock, Intrexon Corporation, to begin stocking up for Thanks- co-trustee Joe Holtz disclosed egy as described in is involved with “GMOs, repro- giving to avoid the rush. The information about the Coop’s the handout. “We ductive biotechnology for cat- stocking of traditional Thanks- pension fund beyond what was believe that they tle, such as animal cloning.” giving items has just begun. presented at the June 2016 Gen- will outperform Tim Thomas told the meet- Beginning the week of Novem- eral Meeting—through a written ILLUSTRATIONS BY MICHAEL J. COHEN these index funds. ing that, “I like the personal ber 1, members will be able to report and commentary on it. Holtz’s handout detailed And I am sure many touch when people are deeply gain FTOP credit for extra shifts Holtz proposes that Pension the actual investments and of those hold fossil fuel invest- involved, running it, and doing needed over the holiday. She Plan Trustees supplement the explained the companies the ments as well.” well. There are millions of asked for people to do all their information about the Coop’s Coop is invested in. “We believe “There are different ways of investment strategies that have assigned shifts because the Defined Benefit Pension Plan that they are good investments, doing things. Since before the gone bad. We could profes- receiving rate of deliveries from at the Annual Meeting. He says which is why we hold the stock,” Coop started, I’ve been meeting sionalize it, but what if the new suppliers will be “intense.” Tur- they should: he said. Holtz pointed out that talented members and trying investments go south?” Thomas keys will be coming early, starting 1. Provide a list of every pen- there had been prior disclo- to figure out how we could use found the returns of the current the Thursday prior to Thanksgiv- sion plan investment, including sures of the investments and their talents. I think we have investments “amazing.” ing, with many different types a description of each invest- stated his intention to offer done very well. Although it has As one who was part of the on order. Shoppers can look for ment and explanation of why such reports more regularly. fluctuated, when you look at early discussions setting up updates on the Coop website. the Pension Plan Trustees have Interested members can obtain what we’ve put in, we’ve done the pension fund, Sukey offered chosen to make it. Holtz’s report at the Coop mem- well. I believe, and George “institutional memory.” She said 2. Provide reports on the bership office. believes, that over the long that she opposes setting up over- or underfunded status of In the ensuing comments, term, they will outperform the a finance committee. “Joe lis- the pension plan, according to Ben Millard, who has been work- index funds.” tened and came up with more the Pension Benefit Guaranty ing with Jonathan Hessney on transparency.” To those propos- Corporation and according to his pension plan proposal (the Jonathan Hessney’s ing change, she asked, “How are the legally required certification third and next agenda item at Proposal you going to be a better stock that complies with the Pension the meeting), applauded Holtz Hessney detailed his two- picker than the two you have?” A Plan Protection Act of 2006 for disclosing the investment part motion to set up a finance more conservative strategy may (known as Adjusted Funding positions by company.
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